If simple solution gets 77% accuracy, and complex solution yields 80%, I would wager that most of the time you should just stick with the simple solution.
One specific example that comes to mind is in sentiment analysis where you can achieve "sufficiently" high accuracy with well tailored Bayesian approaches. They are super fast to train and reason with. If a customer/consumer wants to know exactly why a piece of text is positive or negative, the n-gram probability matrix is extremely easy to inspect. Subsequent re-training and fixing is also much easier than re-training a large neural network, svm, etc.
"This library can also be used to train supervised text classifiers" - https://github.com/facebookresearch/fastText#text-classifica...
Looks like you can use it for gensim. https://radimrehurek.com/gensim/models/fasttext.html
https://scholar.google.com/scholar?hl=en&as_sdt=2005&cites=1...
also afaik fastext is just a faster way to build embeddings that are mostly equivalent to word2vec
All and all, I'm not sure you're enough of an expert to be commenting on this
2) FastText is also a classification algorithm, a command line classifier and a set of pretrained embeddings.
3) Yes, he does. I’ve learnt from his notebooks before, and I am confident I’m qualified to judge. I don’t completely agree with his statement here, but he is well qualified to comment.
Yeah, fasttext/spacy/gensim are some of the biggest open source NLP libraries these days. However I've found that they aren't very performant - I've done prototyping in them before but wouldn't use them for a finished product. I'm sure most big tech companies use custom implementations to do their heavy lifting
For what it's worth, when I was at a large company recently, I did use Gensim too - I was originally referring more to the case where you take a prototype for an NLP application and ask "ok, how do we scale this across millions of users"
FastText itself (the command line program and the pretrained embeddings together) is a decent starting point for classification though.
Fasttext is also available in the popular NLP Python library gensim, with a good demo notebook: https://radimrehurek.com/gensim/models/fasttext.html
And of course, if you have a GPU, recurrent neural networks (or other deep learning architectures) are the endgame for the remaining 10% of problems (a good example is SpaCy's DL implementation: https://spacy.io/). Or use those libraries to incorporate fasttext for text encoding, which has worked well in my use cases.